Preferred Products Started Business on 1 March 2013, and Issued

True/False

Preferred Products started business on 1 March 2013, and issued 100 000 ordinary shares at a price of $2 per share. One year later, the share price had soared to $12. If Preferred Products does a
3- for- 1 share split, the balance sheet will show ordinary shares with a book value of $0.67 per share.